Front Running

Two entities settle front running case with Sebi; pays Rs 67.62 lakh

Labdhi Enterprises and Falguni Ketan Parekh have settled with Sebi a case pertaining to alleged front running of trades of Tata Absolute Return Fund after a payment of Rs 67.62 lakh as settlement amount. Tata Absolute Return Fund is a scheme of Tata AIF (Alternative Investment Fund). The settlement came after Labdhi Enterprises and Parekh filed a joint settlement application to settle the pending proceedings "without admitting or denying the findings". "The proceedings that may have been initiated for the alleged violations ... are settled qua the applicants," Sebi said in its settlement order passed on Friday. As per the order, the Securities and Exchange Board of India (Sebi) conducted a preliminary examination to ascertain that certain entities had been front running the trades of Tata Absolute Return Fund (TARF) between December 2019 and August 2020. Thereafter, Sebi passed an interim order in August 2020, directing the applicants to deposit the proceeds that they had made fro

Sebi's front-running investigations rise even as overall cases dip

More probes were completed than in the previous year

Axis Mutual Fund probe: I-T dept raids ex-fund manager Viresh Joshi's house

Joshi was sacked in May by the Axis Asset Management Company over allegations of front running

Axis AMC sacks chief dealer Viresh Joshi over front-running allegations

The reason for termination was not given. Earlier, Axis AMC had also suspended Joshi and Deepak Agarwal

Should recent events at Axis Mutual Fund worry India's retail investors?

Two fund managers at Axis Mutual Fund were stripped of their responsibilities recently over suspicion that they were involved in front-running. Is it just a stray incident? Or, the tip of an iceberg?

IIFL Group case: Sebi refuses to lift capital market ban on 6 individuals

Sebi on Tuesday refused to lift the capital market ban imposed on six individuals for 'front running' the trades of India Infoline Group

Sebi slaps Rs 2 cr fine on 4 entities in HDFC AMC front-running case

The regulator levied a fine of Rs 50 lakh each on Nilesh Kapadia and Dharmesh Shah, Rs 40 lakh on Ashok Nayak and Rs 60 lakh on IKAB Securities and Investments Ltd.

SC upholds Sebi order against 3 defaulters in 'front-running' cases

The Supreme Court has upheld a 2011 order by Securities and Exchange Board of India (Sebi) giving it a boost while prosecuting 'front running' cases. Front running means buying or selling of securities ahead of a large order so as to benefit from the subsequent price move. Sebi's powers in the matter came under cloud after the Securities Appellate Tribunal (SAT) in 2012 struck down the regulator's order against Dipak Patel, an employee of a Mauritius based fund manager and his relatives, who executed trades based on information passed on by him. SAT's position was that the front running rules could not invoked for persons other than the intermediary. Allowing Sebi's appeals on Wednesday, the bench of NV Ramana and Ranjan Gogoi said, "Taking into consideration the facts and circumstances of the case before us and the law laid down herein above and SEBI v. Kishore R. Ajmera (Supra) can only lead to one conclusion that concerned parties to the transaction were involved in an apparent ...

Devangshu Datta: Bullish attitude, but scepticism remains

The bright side is that tax collections are up in the April 2016-January 2017 period

Devangshu Datta: Post-Budget forecast: Cloudy with some sun

Impending GST implementation might see tax collection projections go awry

Devangshu Datta: The Trump 'remote control' effect

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Devangshu Datta: Optimistic but bracing for impact

With the Budget round the corner there are expectations of sops

Devangshu Datta: A watershed for the wrong reasons

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Devangshu Datta: Opportunity ahead... if you have patience

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Devangshu Datta: Prospect of bear market looms over India

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Devangshu Datta: Unpredictability could be a big factor

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Devangshu Datta: Confounding cross connections

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Devangshu Datta: A lot hinges on the Indo-Pak situation

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Devangshu Datta: Trundling along without much progress

Weak US data dampen chances of a rate hike by the Federal Reserve. The European Central Bank has also maintained status quo. And the market consensus is that the Reserve Bank of India may hit the pause button too

Devangshu Datta: Poised to capitalise on a positive first quarter

A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels